Container with suspected fake currency held at Cochin port

The Department of Revenue Intelligence, Customs and Central Excise have intercepted a container at Cochin, which had arrived from Dubai, suspecting that it is carrying counterfeit currency notes.

Sources in the DRI told rediff.com that they had intercepted the container after receiving tip offs from reliable persons.

The owner of the consignment had told the Customs officials that the container had children's diapers and it was brought from China after conducting all clearances, informed sources. However, officials of the DRI and Central Excise told rediff.com that the container had arrived in the port three days ago and those responsible for the consignment had not yet arrived with the original papers.

Rediff.com had earlier reported that a special team has been constituted by the DRI and the organisation was on the verge of busting a major counterfeit currency racket, which has roots in Kasargod in Kerala, and its tentacles spread throughout the Middle East and Karachi in Pakistan.

There were even reports about the involvement of Pakistan's Inter Services Intelligence in the operation, as sources in the Economic Offences Wing told rediff.com that most of the confiscated notes closely resembled the original Indian currency.

When rediff.com asked experts if Pakistan could have provided the raw material to manufacture the counterfeit notes, they replied in the affirmative.

The outlawed Students Islamic Movement of India has its roots in Kochi and it may be recalled that the camp conducted by SIMI in August, 2007 was considered the brain storming session of the organisation, to carry out serial bomb blasts across the country.